The present invention relates to a field effect transistor (FET) and a method of manufacturing the same, and in particular to, a Schottky junction field effect transistor (herein referred to herein as an MESFET) and a hetero-junction FET (herein referred to as an HJFET) and a method of manufacturing the same in which the FETs have a short gate length and include a metal layer on a side wall for decreasing source resistance and increasing the voltage applicable to the drain.